Taxi insurance


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Frequently asked questions

  • Why do I need taxi insurance?
  • Why is taxi insurance more expensive than car insurance?
  • What levels of cover are there?
  • What should taxi insurance cover?
  • Do I need public hire or private hire taxi insurance?
  • How can I get cheap taxi insurance?
  • Why compare taxi insurance with Compare the Market?

Why do I need taxi insurance?

Taxi insurance is a legal requirement if you drive a taxi for a living. It’s designed to protect you, your car and your customers when you’re driving a car that’s being used for commercial hire. You’ll need a full taxi license in order to apply for a policy.

Why is taxi insurance more expensive than car insurance?

Insuring a taxi tends to be more expensive than insuring a car as you’re likely to cover more miles each year, which increases your risk of being involved in an accident. You also carry passengers, which increases the likelihood of personal injury claims being made against you.

And because you carry passengers it’s likely that you drive a bigger car, which can often fall into a higher car insurance group. The higher the car insurance group your car is in, the higher your premium is likely to be.

What levels of cover are there?

Taxi insurance offers the same three levels of cover as a standard car insurance policy:

  • Third party insurance – covers the cost of compensating other people for injury or damage you cause. However, it doesn’t provide you with any financial help for injury or repairs to your vehicle.
  • Third party, fire and theft – covers the cost of damage or injury to third parties and gives you compensation if your taxi is damaged due to fire or theft or if it’s stolen.
  • Comprehensive car insurance – includes all the cover of a third party fire and theft policy, but could also protect you as a driver and may pay out for damage to your taxi.

What should taxi insurance cover?

Ideally, taxi insurance should include public liability insurance. This could cover any legal or compensation claims from a passenger who is injured or their property is damaged while in your taxi.

Do I need public hire or private hire taxi insurance?

Public hire insurance can cover you if your taxi is available to pre-book and can be stopped on the street. Public hire taxis are usually company owned and will display a taxi sign on top of the vehicle.

Private hire insurance can cover you if you drive a taxi that must be pre-booked and can’t be hailed in the street.

How can I get cheap taxi insurance?

You could cut the cost of taxi insurance by:

  • Building up a good no claims discount
  • Driving safely to avoid convictions as they can increase the cost of your premium
  • Increasing your car’s security. You might need to speak to your insurance provider directly to get any saving reflected
  • Getting a dash cam for your taxi
  • Shopping around for insurance

Why compare taxi insurance with Compare the Market?

Comparing with us could be the best way to get a cheaper deal. We’ll show you some great deals from some of the UK’s most trusted taxi insurance providers. We can help you find the right deal for you by comparing policies based on price, policy cover level, add-ons or annual or monthly payment terms.

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Types of cover